Unique Kitchen Gadget Brand Experiences 56% YOY Growth with 120,000 Monthly Visitors and 75$ AOV
This eCommerce brand specializes in creating and promoting its own line of unique kitchen gadgets. Their products are designed to be both aesthetically pleasing and practical for cooking. They offer a variety of products in the Kitchen & Dining categories through their website and other marketplaces.
OPERATIONS
The owner of the company regularly reviews the product selection and adds new items based on customer demand and market trends. They have around 150 products listed for sale on their website and have increased their average order value from $57 to $75 over the past year. The company has a well-designed website and a strong brand presence.
The company sources their products from an Asian supplier with whom they have a strong relationship. They fulfill all orders themselves, eliminating the need for a warehouse or 3PL. They maintain an inventory level of approximately $10,000 to ensure prompt order fulfillment.
MARKETING AND KEY METRICS
The company drives traffic to their website through Instagram influencers and Facebook ads, which now account for 20% of their sales. They have a straightforward yet highly effective digital marketing strategy.
The company primarily sells their products through their website and other online marketplaces. They have experienced 56% year-over-year growth and have a strong customer base.
The key metrics for this business include a 56% year-over-year growth rate and over 120,000 monthly visitors to their website. They have an average order value of $75.
The company has a diverse customer base with over 30,000 customers in their database. They have a strong brand presence and focus on providing a customer-centric experience.
BUSINESS MODEL & RESOURCES NEEDED
This is a relatively easy business to run, requiring minimal time and effort. The current owner handles most of the day-to-day operations, including running ads, product research, order fulfillment, and managing a virtual assistant.
THE INDUSTRY
The kitchen gadgets industry is a competitive and growing market. With the rise of cooking at home and the desire for convenient and innovative kitchen tools, there is a high demand for unique and practical gadgets. Examples of other companies in this industry include OXO, KitchenAid, and Joseph Joseph.
OPPORTUNITIES TO SCALE
There are several opportunities for the business to scale further. Expanding into new advertising platforms, such as TikTok, can help reach a wider audience and drive growth. Enhancing email and SMS marketing can also help nurture customer relationships and drive repeat purchases. Additionally, implementing Google Ads can attract more customers actively searching for relevant products.
Asking Price: $795,000
Gross Income: $702,383
Cash Flow: $225,540
Year Established: 2019
Employees: 1
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